Wyoming voters will decide in November whether to change the state constitution to allow the investment of billions more dollars of state funds in the stock market.
Wyoming Treasurer Mark Gordon is pushing for the change. He says the constitution currently restricts investment of many state funds to bonds.
Gordon says bonds generally only keep pace with inflation. He says the long-term rate of return in stocks is significantly better even though stocks are riskier than bonds.
Some Wyoming lawmakers who opposed putting the proposed constitutional change on the ballot say they’re leery of investing more state money in stocks. They say the state shouldn’t gamble with funds it can’t afford to lose.
Wyoming has roughly $20 billion in various investments.